All objectives were met or exceeded with the exception of the personal costs rate. Subject to the approval of the General Shareholders’ Meeting, the Supervisory Board, on the recommendation of the Compensation Committee, approved the payment of variable compensation of 516,000 euros in respect of 2022 (ie. 86% of the target variable compensation of Anne-Gabrielle Heilbronner) given elements detailed above.
In accordance with article L. 22-10-34, II of the French Commercial Code, the General Shareholders’ Meeting must vote on the variable and extraordinary items of total compensation and benefits of any kind paid during the past financial year or awarded for that financial year by means of a separate resolution for each member of the Management Board.
The General Shareholders’ Meeting of May 31, 2023 will thus be asked to vote on the items of compensation paid or awarded in respect of the 2022 financial year to Steve King, member of the Management Board until September 14, 2022, as set out below. These elements comply with the compensation policy for members of the Management Board for the financial year 2022 presented in Sections 3.2.1.4 and 3.2.1.7 of the Publicis Groupe S.A. 2021 Universal Registration Document, as approved by the General Shareholders’ Meeting of May 25, 2022 in its tenth resolution. Given the strong approval of items of compensation at the previous General Shareholders’ Meeting, the items of compensation paid or awarded in respect of the 2022 financial year are in line with those paid or awarded in respect of the 2021 financial year. It should be noted that the fixed, variable and extraordinary items of compensation are subject to the approval of the Ordinary General Shareholders’ Meeting in accordance with the provisions of article L. 22-10-34, II, second paragraph, of the French Commercial Code.
These fixed, variable and extraordinary items within the total compensation and benefits of any kind paid during the past financial year or awarded during the past financial year to Steve King, member of the Management Board until September 14, 2022, are subject to the approval of the General Shareholders’ Meeting of May 31, 2023 in its sixteenth resolution pursuant to article L. 22-10-34, II of the French Commercial Code.
